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might be developed commercially. Those plans for commercial development <br /> were never implemented. <br /> IV TIME SCHEDULE <br /> Construction should begin approximately April 1, 1992. Completion time <br /> is 120 days, on or about August 1, 1992. <br /> V PROJECT SUITABILITY <br /> The subject property is ideally suited for additional apartments. The <br /> subject property is configured so all existing buildings are on the <br /> site's perimeter, thereby affording a large open space for development. <br /> Access to Sherman Avenue is excellent and ample parking is available. <br /> In addition, a Madison Metro bus stop is located on Sherman Avenue <br /> directly across from the subject property. <br /> VI LAND USES WITHIN 300 FEET <br /> The surrounding land uses a mixture of single family, multi—family, and <br /> light commercial. Single family homes are located to the north and <br /> west. A combination of single family residences and apartments are <br /> located south of the subject property, while light commercial is found <br /> predominately to the east. <br /> In addition, each adjoining landowner was personally contacted to obtain <br /> their feedback regarding our proposed projected. The overall response <br /> was positive and the contact letter and response letters are included <br /> for your review, see Exhibit D. <br />